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WILMINGTON, Del., July 10, 2014 /PRNewswire/ -- New affordability rankings by Fixr, a home-improvement community, reveal that demographical household earnings and expenses vary vastly between the 32 largest cities in Texas.
Fixr's affordability atlas and rankings for the Lone Star State, now visualized at Fixr.com/TX, draw on data from the Bureau of Labor Statistics, and calculate annual household incomes and realistic costs of living for young families, working-class households, middle-class couples, upper-middle-class families, stay-at-home-parenting households, highly educated workaholics, single freelancers, young workers and minimum-wage workers in the cities in Texas with populations of 100,000 or more residents. The state-of-the-art tools also feature an affordability calculator that lets households easily estimate personalized costs of living based on their actual professions, household incomes and living situations.
"Our rankings are specific to very well-defined demographics, and this makes a tremendous difference for people planning their personal and professional budgets and lifestyles," said Andres Torrubia, CEO of Fixr.com. "With this level of personalization, you can quickly project your cost of living, and explore our many interactive maps that show affordability of specific neighborhoods in each city."
Key findings in affordability of 10 largest cities
Key findings in affordability of 22 midsize cities
Fixr's rankings of the Lone Star State's 22 midsize cities, where populations range from 100,000 to 240,000 residents, show that Wichita Falls, Killeen and Abilene are the only cities where the affordability of housing exceeds 90% for all nine of the demographical households. Midland and Odessa, whose affordability ranks in the lower half among midsize cities for all households, are the state's costliest cities, where the annual costs of living exceed the incomes of working-class families, minimum-wage workers, young families and young workers.
Methodology and data
Fixr's interactive maps and accompanying analysis calculate the percentages of affordable housing preferred by each of the demographical households in the 32 greater areas in Texas. The cities are grouped into affordability brackets, based on annual earnings and expenses, and ranked according to discretionary income (earnings remaining after covered expenses). Annual household income draws on data from the Bureau of Labor Statistics; and the realistic cost of living derives from our formula of seven factors-housing, food, utilities, child care, taxes, health care and transportation. The full methodology is available here.
Journalists can request the raw data of the research from Fixr in a spreadsheet by emailing the address below.
Presentation at Bureau of Labor Statistics
The BLS has selected Fixr to present its research Jul. 15-18 at the Consumer Expenditure Survey (CE) Microdata Users' Workshop and Survey Methods Symposium in Washington, D.C. More information about the event is available here.
Founded in 2008, Fixr.com is a national service that connects consumers seeking cost estimates about local businesses. More than 40,000 services professionals are a part of the network. The Texas Affordability Atlas is the latest addition to Fixr's catalogue of consumer resources. Before the atlas, Fixr created more than 100 cost guides for the most popular home improvement projects, such as kitchen remodeling and swimming pool construction.
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